Ram Venture Holdings hires stock placement agent

Arkansas Business, Sept 20, 2004 by Lance Turner

Ram Venture Holdings Corp. of Little Rock, which is buying Mack's Sport Shop LLC in Stuttgart for $8.5 million, has hired Sterne Agee & Leach Inc. to help it place up to $20 million in shares of its common stock.

The Birmingham, Ala.-based investment banking firm specializes in trans actions for small and middle market companies whose capital needs are between $5 million and $40 million.

"We are convinced we will be able to raise the needed funds to implement our strategy of acquiring 'Best of Brand' companies within the hunting, fishing and outdoor category," the company said in a prepared statement.

Ram Venture also said it will continue its acquisition of Mack's and Hodgman Inc. of Montgomery, Ill., another sporting goods retailer that sells waders, wading boots and other hunting apparel and supplies.

Mack's operates a 104,000-SF retail store on U.S. Highway 63 in Stuttgart and sells items on its Web site at www.mackspw.com. Its mail-order business, Mack's Prairie Wings, sent out 2.4 million catalogs in 2002.

After the purchase, Mack's owner, Marion McCollum, will still own Mack's land and building, valued at $6 million. The purchase agreement will call for McCollum to lease the property to Ram. McCollum has said there will be no change in management or staff at Mack's, and that he will remain president.